The articleship training is the backbone of Chartered Accountancy course as it gives an opportunity to the articled assistants to acquire on-the-job work experience of a professional nature, inculcate a disciplined attitude for hard work, develops necessary skills in applying theoretical knowledge to practical situation. In this regard, the Council of the Institute has been taking different initiatives from time to time to streamline and sustain the efforts of the Institute in providing effective articleship.
The rules and regulations made to check exploitation of emigrants have largely proved effective. Despite the existing framework to enable legal migration and the efforts made by the Government to prevent irregular migration, complaints regarding fraudulent offers of overseas employment and cheating of job seekers are received by the Ministry of Overseas Indian Affairs from time to time.
Complaints against Chief Executives and Functional Directors of the :Public Sector Enterprises and CMDs and Functional Directors of Public Sector Banks and Financial Institutions whether pseudonymous or otherwise, received by the Cabinet Secretariat or the Department of Public Enterprises (DPE) or the Prime Minister’s office, will be first scrutinized by the Group headed by the secretary (Coordination) in the Cabinet Secretariat.
The Parliament today passed the Employees’ State Insurance (Amendment) Bill, 2009. The Employees’ State Insurance Scheme is a welfare scheme framed for workers covered under the Employees’ State Insurance Act, 1948 providing for medical benefits for the employees and their families and payment of benefits to the employees in cases of sickness, maternity and employment injury. The Scheme is applicable to power-using factories employing 10 or more persons and non-power using factories and certain other establishments employing 20 or more persons.
Foreign travellers can carry 50% more foreign exchange in cash than they could earlier. In a move towards further liberalisation of its foreign exchange policy, the Reserve Bank of India said it has increased the cash limit for foreign travel from $2,000 to $3,000 with immediate effect.
The finance ministry has rejected the petroleum ministry’s demand for giving a seven-year income tax holiday to those who win sedimentary blocks for natural gas and coal bed methane (CBM) exploration in the next round of auctions later this year.
Maharashtra Government has imposed capital value-based system to calculate property tax on buildings, lands, houses and establishments across the state. The new system has been put in effect since April 27. “The property tax would be calculated on capital value-based system for all the Municipal Corporations, Councils and local bodies,” an official from the Urban Development Department told.
The Government has said that the IPO price is fixed by the issuer based on an analysis of the quantitative and qualitative factors of the Issuer Company, market sentiments, and demand for the scrip as assessed during road shows etc. The freedom to fix the price band rests with the issuer, who generally does so in consultation with the merchant banker.
Narco, polygraph and brain mapping tests can no more be conducted on anyone, either an accused or a suspect, without his/her consent, the Supreme Court said Wednesday in a ruling that was hailed by activists and lawyers. A bench of Chief Justice K.G. Balakrishnan and Justices R.V. Raveendran and J.M. Panchal said the forcible administration of these tests was “an unwarranted intrusion into the personal liberty” of those facing criminal offences.
The Government has said that no verified information is available which indicates that the cases of corporate frauds are constantly increasing in the corporate sector in the country. However, an elaborate regulatory framework is already in place under the Companies Act, 1956 as well as the regulations of other agencies like Securities andExchange Board of India, Enforcement Directorate, Central Bureau of Investigation, etc. to deal with corporate frauds.
